POSTED: August 17, 2009 by Northern Miner
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OK
Yes, we are all waiting patiently.
Boy oh boy - the suspense, the drama. Here we sit waiting and one would think that the first thng you would do is come here and post that it's over!
Are we not worthy? Here we all sit waiting for the delivery - so a new adventure can begin, or as they say - one door closed and several more now to open!:D
Got my fingers crossed DBD, that everything goes well.
Will keep my fingers crossed until everything is completed.
[I]Strongly[/I] advice that you hold off the BC road trip until after the Labour Day weekend! The weather should be nicer too. Seems the first week of school is always nice.
Yup, today is the day. So far I've been told the inspection went well (it happened yesterday) and no big deal so they have until tonight to waive the financing part. Once that happens it will be figuring out the road trip.
So today's the big day DBD - this weekend it's off to BC and househunting?
Yup the lawn just got put on the some-other-time list.
On the WTF list, the buyer had an appointment to show some of her family the house tonight. fine no problem.
Now when I first started showing this house some idiot who thinks there a home inspector did some damage and I specifically told my Realtor either I will be here or they are to be told to keep their viewing to the obvious so no more damage is done.
So, as has become my habit for most showings, I am sitting down the road watching to see when they leave so I can come in and check things (there is also no way I am staying away from the house for an hour every time when they are usually only here 15 minutes or so as that gets a bit tiresome). Well I'm just sitting and watching to see when they will come out when a truck pulls up and out jumps a guy and grabs his ladder and heads into my house. I fear I also saw red and drove right up and came in to ask what was going on. Realtor luckily had stopped him and told him he was not insured and therefore nor permitted to be inspecting things (he seemed to think he should look in the attic or something). Good thing because I was really steamed at the idea. What are people thinking? The inspection is scheduled, you wait for the inspection. You don't get to poke and probe a house when you don't own it, without permission and especially if you are not a professional. Sheesh. Just what I would need, someone bashing around a ladder and doing who knows what damage or electrocuting themselves and suing me.
Realtor did say they apologized (we spoke after they left) but what a dumb move.
So head's up those who find yourself selling...
If someone doesn't like a house because the grass wasn't mowed that would be pretty sad and narrow minded.
they have a full week to arrange inspection and financing. Since the offer came in in mid week you have to allow that the weekend is dead days for that basically (although inspectors can be reached on weekends) but with this one and the last one we made sure the date to sign off gives us enough room to have the house back up for the following weekend if need be. No way we were going conditional for 2 straight weekends.
to me they really shouldn't need that long. Through my broker it hasn't taken longer than a day to get the mortgage (and any appraisal that may require) and an inspector can usually be had in about 3 days so I think if you pressed it, you could do it in less.
Meanwhile here I sit typing when my Realtor just called to say some people are in from out of town who want to see my house this afternoon. She wants to let them see as a back up. So still showing while waiting for waivers. I sure wish I had mowed the lawn yesterday... now my afternoon plans have to totally change to accommodate this showing and I'm getting more than tired of this routine.
Hey DBD, I know you said it would be a week until you find out whether or not your house was sold, but is it really that long or something like 5 business days?
What sort of conditions did they impose, if you don't mind?
I'm asking because, as you may recall, there is a possibility we might be selling too and face the same terms. I'm thinking two possibilities, home inspection and financing as being the two biggies. Any others to be aware of?
You should have your sale completed by when - Thursday?
[.....]'who would paint a front door red?' [....].
Ummmm...Elizabeth Arden? ;)
:D
WOW! If it weren't for the frustration you must have felt with that nonsense, that's HILARIOUS!
That is exactly how I felt with the first offer. Those folks wanted all sorts of things that just had nothing to do with the inspection. What got me at the time was the buyer emailed with a grand list of things that were wrong according to the inspection and his list of demands and my Realtor bought it hook line and sinker even though we hadn't even seen the report. I actually sent her pictures of some of what he was claiming to show there was nothing and told her I was absolutely not willing to even discuss it until they produced the report. Sure enough, the report didn't back up any of it
It's really amazing how much scamming some folks will try when what they end up claiming is in plain view, before they made offers, when they had every opportunity to put it in the offer if it was so critical. What kills me is the seller has no protection against them really. My Realtor tells me it's extremely rare for a court to allow the seller to keep a deposit when buyers try and pull fast ones, but meanwhile the house starts appearing as a problem to other buyers when it's off and then back on the market. Seems to me we should be able to say they stick to the terms of the contract or lose the deposit, all fair and reasonable dealing, in good faith, or nothing.
Inglewood I had the same sort of buyers when I sold one house that was only 18 mos old. I mean sheesh, get real. The inspection comes up pristine and they find things wrong on their own and think it's valid just because they say so...that was one reason I so wanted out of this first offer on this house as I saw that nightmare happening again. Those goofs that bought my new house tried things for a couple of months after they took possession even though the lawyers told them to go away every time. It was actually getting almost funny getting phone calls after they moved in because their mom came and said 'who would paint a front door red?' so they wanted it painted and called the lawyer... Right, I be right over, what colour would you like? Hold your breath until I get there.
While inspections are good, I often see them as a [B]discount grab.[/B] Unless your desperate to sell I would refuse any allowance on sale based on the inspection unless 'really' warranted ie roof leak, broken furnace/air conditioner (anything major or major hidden) Either the buyer wants it or doesn't
I sold a 'new' house once and the buyer wanted all the doors rehung (?) a different vent for an exhaust fan, a new electrical panel, deck restained and other minor things based on inspection....which were not an issue at all. Ya.... right...never happened. I said either they want it as is or move on..it's a new house with a recenty stained deck! Didn't give them a discount and didn't do the changes. They bought the house. That was the craziest sale I ever had. I've never have discounted an offer and won't.
It's a screwy system in many respects but let's take a hypothetical.
I offer to buy your house at a fixed price of say $425,000 with two conditions, home inspection and financing. We agree that's okay and we have a week to remove the conditions.
Now along comes Joe and he wants to put an offer in firm with no conditions. Joe I don't think finds out my offer price and bids what he wants.
You as the seller can go back to me and give me 24 hours get things done or it could open to the other buyer. I am still protected, but the other offer means I now have to decide to proceed or not.
If I'm wrong - please feel free to correct me.
Here if there is a conditional sale they slap up a C/S sticker on the sign and people can still view the house, but they can't submit an offer during the time allowed to meet the conditions. That happened with me when I bought this house. It got a C/S before I had a chance at it and my Realtor notified their Realtor to let him know if the conditions didn't get waved. They didn't and I put in an offer the same day with no conditions, lower price, and they took it rather than put it on the market again and have to explain why the conditions weren't waved (which can be a hard one to get around if it's the inspection). Because the condition not met was the inspection, I was allowed to see the summary of it before making an offer (which is technically cheating since usually only the Realtor for the buyer can see the report). In that case the buyers had managed to convince the inspector to inflate things on the report to get them out of the deal and both my Realtor & I knew it was a fudge but the seller was going to have a hard time getting past it without doing their own inspection report so they decided to sell fast for less instead of going through the hassle.
With my house this time, the original buyers didn't want to waive the inspection but there was nothing on the inspection to warrant their demands. For instance, my roof is 4 years old, dry, to code, and deemed okay by the inspection yet the original buyers insist they deserve a new roof because there is more than one layer of shingles (you can have up to 3 by code). Not happening. You don't get a new roof when the inspection doesn't indicate you need a new roof. So my Realtor can show that report to other Realtors so they understand it wasn't the inspection itself that caused the last buyer to not waive the conditions.
Here I can't even accept/see another offer of any kind once I accept one. That can get sticky. This time there was a potential of 3 offers which were possible yesterday. All those people were notified when one decided they were writing and they put a expiry of midnight on it so the others had to come in before then to compete with this one. If I turned that one down waiting for the other two, I take the risk that they change their minds about putting in an offer. So not much wiggle room.
so what happens where you are if the seller accepts a conditional offer and another offer, higher price comes in? Is the original buyer notified so they can raise their price if need be and negotiating done between the two buyers and the seller? Does the original get any dibs on the house when it comes to price or is it simply the price stands as long as they waive the conditions and seller is stuck taking the lower price?
Just a note: That also here realtors like to have their protential buyers preapproved which means that you know what they can afford and that there will be no problem getting monies. Even being preapproved however does not always mean a smooth road as sometimes, something is left out. Good Luck. Waiting, waiting, when it the closing date that everything must be in order, usually 10 banking days.
I like it with no conditional signage out front ie here in Ontario
They do the conditional signage in the states where I lived which was a pain for the sale of the house. The realtor stop showing the house during this time and I was peeved to say the least.
Good luck DBD...my fingers are crossed for you.
Congratulations and good luck with the sale going through smoothly this time. When do the conditions have to be completed?
The orginal possible purchasers are jerks. Calling you directly? They likely push & try this on everything they purchase. Their realtor could regret having them as customers as they're wasting her time too.
Never heard of this C/S thing either.
Fingers crossed for you.
Yes, here in Ontario, viewings are done until the sale is completed. Protential buyers are informed there is a conditional offer but if they want it they can put in a offer and than the lst offer must waive his conditions if he wants it or ............................................................. Sometimes thought a bird in the hand is worth two in the bush ( I don't think I have that right). New buyers are not informed of what the offer is so if they want it they have to come thru with their top offer. I imagine alot of agents don't show homes that have conditional offers as it could just lead to wasted time on both parties. Good Luck!!! :D
Another 'end run' try by desparate people who hope like Halifax that the seller is in a hurry.
Congrats on the possible sale DBD and we also hope it goes through.
You mentioned a conditional sold sign. Is that something that they put on the sign in front of your house? We don't do that in Ontario and the house is still for sale until the conditons have been lifted.
Sometimes it helps force the sale and also lets other people still see the property because they can always come in firm and then force the first party to act or get out. Different ways, different markets I guess.
Oh by the way - you really were up late - your time 1.49 am?
I guess the other realtor got steamed because they see the commission slipping out of their hands and into someone elses.
Okay, now I have an update. The house is once again conditionally sold (and with me doing better than the previous one :)) Something was up with the market since I went from 5 showings last week to 7 in just 3 days this week.
So another week with the C/S on the sign and I just have a feeling this one will go smoother than the last. If you can believe it those folks were still calling today still wanting me to give them the house for less money and with even more demands than before (which they were told were not considered reasonable by more people than myself when they were told to go away last time) ...and they went about it in a way that got their Realtor quite steamed. Not sure what they thought their bargaining chip was as it mystifies me at the moment. Maybe they thought I'd get low balled and become desperate.
I've heard the same thing. People who had things to do over the summer but want to be in a new place by Christmas seem to buy in the fall. Fingers crossed that is the case here. Could be it's less expensive to move too. I was told one time (when I had to get movers the first week in Sept.) it's one of their busiest months. I wonder how many actually hit a place around the long weekend just to scout houses out so they can move in the fall.
Rain definitely makes a difference in showings - people want to see the outside as well as the inside and they don't want to get wet and muddy doing it.
It'll pick up. The real estate agents here tell us September is actually the busiest/most sales month. I have no idea why - it makes no sense to me, but the numbers say it.
Nope, no such luck. Actually I was speaking to my Realtor today just because we went from usually having 3 showings a day, and requests even after it was pending, to nothing, zero, not a one all weekend when it went back on the MLS. I call that spooky and asked what she thought. She said usually the first two weeks are the busiest but she expected more when we came back on market too so not much useful info happening there. Meanwhile today a REaltor showed up to see it on behalf of a client so that's a start I guess.
She did change a bit in the description but didn't change any pictures or the price or anything. It also rained here all weekend and I don't know if that makes any difference to whether people look more or less than nice weather or not.
Since I'm still not even half way through the average days on the market (and 7 or that was stuck in pending) I'm not overly concerned yet. Another few weeks and I might be, but not yet.